Northcoast Research Weighs in on SpartanNash Co’s FY2018 Earnings (SPTN)

SpartanNash Co (NASDAQ:SPTN) – Equities researchers at Northcoast Research increased their FY2018 EPS estimates for SpartanNash in a report issued on Thursday, according to Zacks Investment Research. Northcoast Research analyst C. Cerankosky now forecasts that the company will earn $2.28 per share for the year, up from their prior estimate of $2.24. Northcoast Research has a “Neutral” rating on the stock.

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Other analysts also recently issued research reports about the stock. Pivotal Research reissued a “sell” rating and issued a $20.00 price objective (down previously from $21.00) on shares of SpartanNash in a research note on Wednesday, February 21st. BidaskClub downgraded shares of SpartanNash from a “hold” rating to a “sell” rating in a research note on Thursday, January 18th. Zacks Investment Research raised shares of SpartanNash from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Deutsche Bank decreased their price objective on shares of SpartanNash from $24.00 to $21.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Finally, BMO Capital Markets raised shares of SpartanNash from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $25.00 to $23.00 in a research note on Friday, March 2nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $22.20.

Shares of SpartanNash (NASDAQ SPTN) traded down $0.31 during trading hours on Monday, hitting $18.65. 239,427 shares of the company were exchanged, compared to its average volume of 308,660. The company has a current ratio of 2.03, a quick ratio of 0.82 and a debt-to-equity ratio of 1.03. SpartanNash has a 1 year low of $16.32 and a 1 year high of $37.83. The company has a market cap of $678.07, a P/E ratio of -13.09, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.01). SpartanNash had a negative net margin of 0.65% and a positive return on equity of 10.08%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business posted $0.53 EPS. The firm’s revenue was up 5.3% on a year-over-year basis.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, March 16th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, March 15th. This is a positive change from SpartanNash’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.86%. SpartanNash’s dividend payout ratio (DPR) is -46.48%.

SpartanNash declared that its Board of Directors has approved a share buyback program on Thursday, November 16th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

In related news, CFO Mark Shamber bought 5,500 shares of SpartanNash stock in a transaction dated Friday, March 2nd. The shares were acquired at an average cost of $18.24 per share, with a total value of $100,320.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.00% of the company’s stock.

Several large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its position in shares of SpartanNash by 1.4% during the second quarter. Public Employees Retirement System of Ohio now owns 18,383 shares of the company’s stock worth $477,000 after acquiring an additional 245 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of SpartanNash by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 28,856 shares of the company’s stock worth $749,000 after acquiring an additional 479 shares during the period. Strs Ohio increased its position in shares of SpartanNash by 6.6% during the third quarter. Strs Ohio now owns 33,800 shares of the company’s stock worth $891,000 after acquiring an additional 2,100 shares during the period. Legal & General Group Plc increased its position in shares of SpartanNash by 2.6% during the third quarter. Legal & General Group Plc now owns 104,676 shares of the company’s stock worth $2,762,000 after acquiring an additional 2,612 shares during the period. Finally, Convergence Investment Partners LLC increased its position in shares of SpartanNash by 15.3% during the third quarter. Convergence Investment Partners LLC now owns 20,383 shares of the company’s stock worth $537,000 after acquiring an additional 2,711 shares during the period. 89.70% of the stock is currently owned by institutional investors and hedge funds.

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About SpartanNash

SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.